Rapid Dose Therapeutics Signs Distribution Agreement for QuickStrip™ Nutraceutical Product Line and Receives US$2.1 Million Purchase Order
BURLINGTON, ON, July 16, 2019 /CNW/ - Rapid Dose Therapeutics Corp. (CSE: DOSE),("RDT") and Ukraine Pharma (the "Company")announced today that they have signed a twelve month distribution agreement (the "Agreement") to export QuickStrip™ nutraceutical products to Ukraine and a number of other Eastern European countries, giving the Company rights to market the Energy, B12, and Sleep QuickStrip™ nutraceutical products to a consumer base of over 200 million people with tremendous buying power.
The Agreement requires a minimum quarterly order of one million of each of RDT's Energy, B12, and Sleep QuickStrips™ and the Company has provided RDT with a signed purchase order for US$2.1 million.
RDT's proprietary QuickStrip™ technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system that offers an Anytime, Anywhere™ product to consumers. Ukraine Pharma expects to distribute QuickStrip™ by the third calendar quarter of 2019.
"This represents the beginning of a growing opportunity for RDT to provide its QuickStrip™ products to people wanting an effective and innovative means of delivering nutraceuticals," said Mark Upsdell, CEO of RDT. "The Agreement with Ukraine Pharma elevates QuickStrip™ as a growing international brand and delivery device to major market consumers, while simultaneously offering health benefits and improving patient outcomes."
"When we were introduced to the QuickStrip™ technology and nutraceutical product line, we knew this will significantly change the way drugs are delivered," said Veronica Burke, CEO of Ukraine Pharma. "The high quality product combined with the innovative delivery system is something we consider is much needed in the numerous Eastern European countries in which we have established relationships. We will begin distribution in Ukraine and expand from there."
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian life sciences company that provides innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry, including nutraceutical, pharmaceutical and cannabis industries. Within the cannabis sector, RDT provides a turn-key Managed Strip Service Program which enables RDT's QuickStrip™ proprietary drug delivery technology to be licensed by select partners. RDT's service-based annuity contracts drive recurring revenue which enables rapid expansion into emerging markets — generating value for consumers and shareholders. Rapid Dose Therapeutics is committed to continually create innovative solutions aimed at multiple consumer segments and future market needs — including humans, animals and plants.
For more information, visit: www.rapid-dose.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward- looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of products using the QuickStrip™ product delivery method, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT as to future events or results and are believed to be reasonable based on information currently available to them. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Rapid Dose Therapeutics Corp.